Sixteen contracts were signed last week at $4 million and above. The good news: Those results are on par with last year when the same number of contracts were signed in the week leading into Labor Day. The not-so-good news: The average number of days on the market was 398 compared to 283 for the same week in 2015. In addition, the negotiability off the original asking price reached 14% before a property went into contract, a glaringly high number.
The No. 1 contract was a townhouse at 49 East 68th Street, asking $26.5 million, reduced from $38 million when it went on the market in March 2015. This 25-foot-wide, 5-story Georgian house has 12,500 square feet including 6 bedrooms, 5.5 bathrooms, an elevator, and a half-court basketball court. It was purchased for $1.1 million in 1999 by artist Abby Leigh and her husband, Mitch Leigh, the composer of Man of La Mancha.
The No. 2 contract was the 3rd floor at 18 Gramercy Park South, asking $15 million, up from $14.75 million when this new condo building hit the market in 2013. The apartment has 4,207 square feet including 4 bedrooms, 5.5 baths, and a terrace off the master suite; the unit comes with a key to Gramercy Park. The 16-unit condo has only one sponsor apartment left from the team that developed 15 Central Park West: architect Robert A.M. Stern and developers Zeckendorf Realty.
CLICK HERE TO VIEW 13 CONTRACTS SIGNED ON APARTMENTS
CLICK HERE TO VIEW 3 CONTRACTS SIGNED ON TOWNHOUSES